Apparently smarting on the shortfall of USD following the closure of most businesses in the country during the yuletide and New Year festivities, the Naira sustained its gain against the USD in the parallel market on Thursday morning and exchanged at N730/$1. The local currency’s exchange rate on Thursday represented an improvement of 0.82% from N736/$1 […]
The Federal Government has said that the 774 local governments will benefit from the 35% Electronic Money Transfer Levy provided for in the Finance Bill 2022, debunking insinuations that the revenue will be shared by only the federal and state governments. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made this clarification […]
Trading on the floor of the Nigerian Exchange (NGX) was bullish on Wednesday with investors gaining N34 billion as bulls maintained their grip on the local bourse during the trading session. The bourse’s All Share Index (ASI) also increased by 0.12% to close at 51,657.56 points just as the market breadth closed positive with NB […]
The Federal Government on Wednesday vowed to end the fiscal regime by the end of June this year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who gave this hint during her public presentation on the breakdown of the 2023 Federal Government budget in Abuja, said that the government had made provisions […]
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that 4.8 million new Bank Verification Numbers (BVNs) were recorded in 2022, thereby raising the total number of registered BVNs in the country to 56.5 million. The NIBSS had last year put the BVN volume at 51.7 million as at December 2021. The latest data by the agency indicated […]
The Securities and Exchange Commission (SEC) Nigeria has reiterated its concern on proliferation of operators running illegal investment schemes in the country and described the ugly situation as undesirable in the nation’s investment space Director General of the commission, Mr. Lamido Yuguda, who expressed the market regulator’s concern in a New Year Message in Abuja, […]
President Muhammadu Buhari in the early hours of Tuesday signed the Federal Government of Nigeria’s N21.8 trillion 2023 budget into law following last week’s passage of the Appropriation Bill 2023 by the National Assembly. A statement by the Ministry of Finance, Budget and National Planning which was also confirmed by a media aide in the […]
Trading activities on the floor of the Nigerian Exchange (NGX) closed positive on Tuesday, the first trading day in 2023, with a gain of N187 billion accruing to investors at the end of the trading session. This indicated that the bourse’s All Share Index (ASI) increased by 1.89% to close at 51,595.66 points while the […]
The Naira, Nigeria’s national currency, sustained its rebound trend in exchange rate at the black market in the early hours on Tuesday and traded at an average of N736/$1. The local currency traded at the same value as of the close of trading activities last week Friday. Operators in the black market at the Wuse […]
The Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s leading private sector advocacy groups, has set some key fiscal and other policy measures for the Federal Government to adopt in its current efforts to keep the nation’s economy on the path of sustainable growth this year. The group, in its ‘New Year Statement […]